Sony (NYSE:SONY) Sets New 1-Year High on Earnings Beat

Sony Corporation (NYSE:SONY)’s share price reached a new 52-week high on Friday following a better than expected earnings announcement. The stock traded as high as $27.17 and last traded at $26.96, with a volume of 1190290 shares. The stock had previously closed at $26.03.

The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.06. Sony had a return on equity of 14.12% and a net margin of 9.14%. The firm had revenue of $17.79 billion during the quarter, compared to analysts’ expectations of $18.88 billion. During the same quarter in the previous year, the business earned $189.90 earnings per share.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Sony from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Sony has an average rating of “Moderate Buy” and an average target price of $28.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SONY. Aristotle Capital Management LLC grew its position in shares of Sony by 393.7% during the 4th quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company’s stock valued at $1,116,653,000 after acquiring an additional 42,083,842 shares during the period. Bank of America Corp DE lifted its position in Sony by 377.7% during the fourth quarter. Bank of America Corp DE now owns 23,804,970 shares of the company’s stock valued at $503,713,000 after purchasing an additional 18,821,902 shares in the last quarter. Fiduciary Management Inc. WI grew its holdings in Sony by 377.2% during the fourth quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company’s stock valued at $218,382,000 after purchasing an additional 8,157,776 shares during the period. Mondrian Investment Partners LTD grew its holdings in Sony by 358.2% during the fourth quarter. Mondrian Investment Partners LTD now owns 10,138,119 shares of the company’s stock valued at $223,039,000 after purchasing an additional 7,925,643 shares during the period. Finally, Northern Trust Corp increased its position in Sony by 609.6% in the fourth quarter. Northern Trust Corp now owns 7,587,683 shares of the company’s stock worth $160,555,000 after buying an additional 6,518,412 shares in the last quarter. Institutional investors own 14.05% of the company’s stock.

Sony Price Performance

The company has a quick ratio of 0.57, a current ratio of 0.70 and a debt-to-equity ratio of 0.24. The stock has a market cap of $164.19 billion, a P/E ratio of 21.55, a P/E/G ratio of 12.46 and a beta of 0.91. The firm has a 50 day moving average price of $25.30 and a 200 day moving average price of $24.51.

About Sony

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.